Get App
Market opening - An Overview
Nifty futures on the Singapore Exchange traded 43.50 points, or 0.30 per cent, higher at 14,531 at 7.30 hours (IST) in signs that Dalal Street was headed for a positive start on Tuesday.
US stocks rose modestly on Monday at the start of a busy week featuring Federal Reserve and OPEC meetings and major US corporate earnings. The tech-rich Nasdaq Composite index led major indices, winning 0.9 per cent to close at 14,138.77 and overtake its previous record. The broad-based S&P500 index gained 0.2 per cent to end the day at 4,187.64, narrowly topping its all-time high, while the Dow Jones Industrial Average shed 0.2 per cent to 33,981.57.
The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields, as investors consolidated positions ahead of the Federal Reserve’s policy decision this week. The dollar index, which tracks the US currency against six peers, was little changed at 90.859 early in the Asian session, after dipping to the lowest since March 3 overnight at 90.679.
Shares in News today:
Tech Mahindra: reported a 34.6 per cent jump in net profit to Rs 1,081 crore for the March 2021 quarter on account of an expansion in profit margins, and guided towards targeting for a double-digit revenue growth in FY22. The IT firm said it has acquired Eventus Solutions Group for up to $44 million.
SBI Card: SBI Cards and Payment Services reported a 110 per cent rise in net profit at Rs 175 crore for the quarter ended March 2021. The credit card company, promoted by the country’s largest lender SBI, had posted a net profit of Rs 84 crore in the corresponding period of last year.
NTPC: State-owned power giant NTPC has invited expression of interest (EoI) for the sale of desalinated water produced at its joint venture project NTECL Vallur in Tamil Nadu. NTECL is a 50:50 Joint Venture Company formed between NTPC and Tamil Nadu Generation and Distribution Company Ltd (TANGEDCO).
HDFC Life Insurance: reported a 2 per cent increase in its standalone profit after tax to Rs 318 crore in the quarter ended on March 31, 2021, compared to Rs 312 crore in the year-ago period.
Tata Motors: The automaker said it has set in motion a business plan to protect and serve the interests of its customers, dealers and suppliers as the lockdowns enforced in various parts of the country are expected to impact vehicle demand temporarily.